Impacts of Globalization on the Labour Market in the United Kingdom - Research Paper Example

Considering all the factors and the position of the UK government which strives to make globalization work for the people of the United Kingdom, the overall picture of the labour market depicts a highly favourable situation for Great Britain’s global economy.The United Kingdom of Great Britain and Northern Ireland (hereafter referred to as United Kingdom, UK, or Britain) is a unity state consists of four countries namely England, Scotland and Northern Island. It governs its people under a constitutional monarchy through the parliamentary system.

The UK has been known as a country that had pioneered the phenomenon that changed the course of history known as the Industrial Revolution. Thus, the United Kingdom holds the pride of being the world’s first industrialised country in history.Nevertheless, despite the economic and social setbacks of World War I and II to Great Britain, it proved its resilience as it stands to be one of the most politically influential countries in the world in both areas of politics and economy at present.

The State of United Kingdom was able to maintain its stature as a highly developed country.Britain’s economy is being run based on the principles of market liberalization and low taxation and regulation1. Perhaps, it can easily be claimed that globalization dictates United Kingdom’s economy and have a great influence in the decision-making process of the political spectrum.Globalization has become the centre and the primary the very influential consideration in United Kingdom’s trade and bargain system with other states or countries.

UK government depends on the unyielding interface of markets, countries, technologies, and capital in a much cheaper and faster rate that globalization brings.Thus, the United Kingdom plays a role of crucial importance in the world’s globalization thrust being one of the world’s biggest capitalist magnates.